13 February 2020: Airbus, the Government of Quebec and Bombardier have decided upon a new ownership structure for the A220 programme, whereby Bombardier transferred its remaining shares in Airbus Canada Limited Partnership (Airbus Canada) to Airbus and the Government of Quebec.
This agreement brings the shareholdings in Airbus Canada, responsible for the A220, to 75 per cent for Airbus and 25 per cent for the Government of Quebec respectively. The Government’s stake is redeemable by Airbus in 2026 - three years later than before. As part of this transaction, Airbus, via its wholly-owned subsidiary Stelia Aerospace, has also taken over the A220 and A330 work package production capabilities from Bombardier in Saint-Laurent, Quebec.
This new agreement highlights the commitment of Airbus and the Government of Quebec to the A220 programme during this phase of continuous ramp-up and increasing customer demand. After Airbus had taken over the majority ownership of the A220 programme on July 1, 2018, total cumulative net orders for the aircraft have increased by 64 per cent to 658 units at the end of January 2020.
"This agreement with Bombardier and the Government of Québec demonstrates our support and commitment to the A220 and Airbus in Canada. Furthermore it extends our trustful partnership with the Government of Quebec. This is good news for our customers and employees as well as for the Quebec and Canadian aerospace industry,” said Airbus Chief Executive Officer Guillaume Faury. "I would like to sincerely thank Bombardier for the strong collaboration during our partnership. We are committed to this fantastic aircraft programme and we are aligned with the Government of Québec in our ambition to bring long-term visibility to the Quebec and Canadian aerospace industry.”
“I am proud that our government was able to reach this agreement. We have succeeded in protecting paying jobs and the exceptional expertise developed in Quebec, despite the major challenges we faced in this regard when we took office. We have consolidated the government’s position in the partnership, while respecting our commitment not to reinvest in the programme. By opting to strengthen its presence here, Airbus has chosen to focus on our talents and our creativity. The decision of an industrial giant like Airbus to invest more in Quebec will help attract other world-class prime contractors,” the Premier of Quebec, François Legault, stated.
“This agreement is excellent news for Québec and its aerospace industry. The A220 partnership is now well established and will continue to grow in Quebec. The agreement will allow Bombardier to improve its financial situation and Airbus to increase its presence and footprint in Quebec. It’s a win–win situation for both the private partners and the industry,” pointed out Pierre Fitzgibbon, Minister of the Economy and Innovation.
“This transaction supports our efforts to address our capital structure and completes our strategic exit from commercial aerospace,” said Alain Bellemare, President and CEO Bombardier, Inc. “We are incredibly proud of the many achievements and tremendous impact Bombardier had on the commercial aviation industry. We are equally proud of the responsible way in which we have exited commercial aerospace, preserving jobs and reinforcing the aerospace cluster in Québec and Canada. We are confident that the A220 programme will enjoy a long and successful run under Airbus’ and the Government of Quebec’s stewardship.”